HCL Tech Results: Q2 FY2023 Earnings Announcement | Date and Time - What Shareholders Should Know

HCL Technologies Results: The IT major HCLTech is scheduled to announce its Q2 FY2023 earnings on Wednesday, October 12, 2022. The HCLTech Results for Q2 FY2023 will be announced at 5.30 p.m.

HCL Q2 FY2023 Results: Date and Time 

Date: October 12, 2022 

Time: 5.30 p.m.

Earlier, IT company HCL Technologies had said that it plans to hire 1,300 people in Mexico over the next two years, according to a statement. 

The move is expected to strengthen its current employee base of 2,400 people in that country.

HCL Tech outlined its expansion plans in Mexico at its 14-year anniversary celebration at Guadalajara, in Mexico and said "the company expects to hire 1,300 people in the next two years".

The IT firm will also be opening its sixth technology center in Guadalajara.

The new center will significantly expand its presence to serve its growing local and international client base across industries and will focus on creating next-generation digital solutions.

"In line with the company's hybrid operating model, the center will embrace an agile workplace," the statement said.

The company recently announced a digital transformation partnership with Cemex, a global construction materials company and an integrated IT Services partnership with Neoris, a leading global digital accelerator.

Meanwhile, analysts had predicted that Indian IT services companies are expected to log steady sequential revenue growth in September quarter but an overhang of weak global cues tinged with macro risks will put spotlight on management commentary around deal momentum and demand outlook.

Brokerage reports and analysts' notes on Q2 earnings preview anticipate reasonably strong growth quarter for Indian IT firms despite challenging macroeconomic scenario in the US and Europe, but there are fair bit of warnings around "incremental pockets of weakness" or "slowdown in coming quarters".

The sunny, all-bullish demand narrative just a few quarters back has made way for more cautious and tempered expectations as storm clouds over global economy prompt economic commentators to flash warnings about recession risks and international market shocks.

Reports suggest that the US-based companies, including many tech firms, have cumulatively laid off thousands of employees in 2022 alone, and slammed brakes on hirings.

Back home, market watchers are divided in their opinion on whether the cost optimisation agendas of the US and European companies will continue to yield significant outsourcing gains in favour of Indian service providers in coming quarters, enough to offset any slowdown or pause on discretionary IT spends by clients under duress.